Shares of Chinese securities firms fell after a regulator said it’s considering letting banks enter the industry, raising the prospect of increased competition.
Citic Securities Co., the largest by market value, declined as much as 4.7 percent in Shanghai while second-ranked Shenwan Hongyuan Group Co. slipped as much as 3.4 percent.
“Brokerages will come under heavy pressure if banks are allowed to enter this area,” said Luo Yi, an analyst at Huatai Securities Co. in Shenzhen.
Full Content: Taipei Times
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